SolGold (LON:SOLG) Trading 13.1% Higher After Insider Buying Activity

SolGold Plc (LON:SOLG) shot up 13.1% during mid-day trading on Friday following insider buying activity. The stock traded as high as GBX 11.30 ($0.15) and last traded at GBX 11.30 ($0.15). 16,444,152 shares changed hands during mid-day trading, an increase of 202% from the average session volume of 5,439,694 shares. The stock had previously closed at GBX 9.99 ($0.13).

Specifically, insider Paul Smith acquired 9,587 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average price of GBX 10 ($0.13) per share, for a total transaction of £958.70 ($1,272.50). Also, insider Paul Smith bought 8,479 shares of SolGold stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average cost of GBX 10 ($0.13) per share, for a total transaction of £847.90 ($1,125.43). In other news, insider Paul Smith purchased 31,184 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was bought at an average cost of GBX 10 ($0.13) per share, with a total value of £3,118.40 ($4,139.10).

SolGold Trading Up 13.1%

The company has a current ratio of 3.75, a quick ratio of 2.30 and a debt-to-equity ratio of 78.66. The stock has a 50 day simple moving average of GBX 7.40 and a 200-day simple moving average of GBX 7.11. The firm has a market cap of £423.79 million, a P/E ratio of -6.91 and a beta of 1.20.

About SolGold

SolGold is a leading exploration company focussed on the discovery, definition and development of world-class copper-gold deposits. SolGold has a first mover advantage in Ecuador, a highly prospective yet under-explored section of the Andean Copper Belt, home of multiple Tier 1 copper and gold projects and half of the world’s copper resources.